Goldman Sachs Group Inc. Decreases Stock Position in U.S. Bancorp $USB

Goldman Sachs Group Inc. lowered its stake in U.S. Bancorp (NYSE:USB) by 4.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,274,556 shares of the financial services provider’s stock after selling 516,186 shares during the period. Goldman Sachs Group Inc.’s holdings in U.S. Bancorp were worth $654,970,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Financial Life Planners purchased a new position in shares of U.S. Bancorp in the third quarter worth about $25,000. Clayton Financial Group LLC purchased a new position in U.S. Bancorp during the 4th quarter valued at about $25,000. JPL Wealth Management LLC purchased a new position in U.S. Bancorp during the 3rd quarter valued at about $28,000. Binnacle Investments Inc increased its holdings in U.S. Bancorp by 77.8% during the 3rd quarter. Binnacle Investments Inc now owns 624 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 273 shares during the period. Finally, Westside Investment Management Inc. increased its holdings in U.S. Bancorp by 93.3% during the 3rd quarter. Westside Investment Management Inc. now owns 663 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 320 shares during the period. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Insider Buying and Selling

In related news, EVP Venkatachari Dilip sold 34,522 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total value of $1,916,661.44. Following the completion of the transaction, the executive vice president directly owned 51,292 shares in the company, valued at $2,847,731.84. The trade was a 40.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jodi L. Richard sold 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total transaction of $2,280,000.00. Following the completion of the transaction, the insider owned 207,251 shares of the company’s stock, valued at approximately $11,813,307. The trade was a 16.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Barclays boosted their price target on U.S. Bancorp from $65.00 to $67.00 and gave the company an “overweight” rating in a report on Friday, April 17th. UBS Group reaffirmed a “neutral” rating and set a $60.00 price objective on shares of U.S. Bancorp in a research report on Wednesday, February 4th. Piper Sandler reaffirmed a “buy” rating on shares of U.S. Bancorp in a research report on Thursday, February 26th. Royal Bank Of Canada lifted their price objective on U.S. Bancorp from $59.00 to $61.00 and gave the company an “outperform” rating in a research report on Friday, April 17th. Finally, Weiss Ratings raised U.S. Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $61.20.

U.S. Bancorp Stock Performance

Shares of USB opened at $53.18 on Thursday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.03. The business’s 50 day moving average price is $54.57 and its 200-day moving average price is $54.09. U.S. Bancorp has a 52 week low of $42.55 and a 52 week high of $61.19. The stock has a market cap of $82.49 billion, a P/E ratio of 11.15, a P/E/G ratio of 0.98 and a beta of 0.97.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Thursday, April 16th. The financial services provider reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.04. U.S. Bancorp had a return on equity of 13.55% and a net margin of 18.01%.The firm had revenue of $7.32 billion for the quarter, compared to analysts’ expectations of $7.27 billion. During the same period in the previous year, the firm posted $1.03 EPS. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. Equities research analysts anticipate that U.S. Bancorp will post 5.09 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend was Tuesday, March 31st. U.S. Bancorp’s payout ratio is currently 43.61%.

U.S. Bancorp Company Profile

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.